The net inflows into active equity mutual fund (MF) schemes registered more than a twofold month-on-month rise in August, crossing Rs 20,000 crore, the highest in five months. This rise in net inflows was boosted by an 18 per cent growth in gross investments, driven by a record Rs 15,800 crore inflow through the systematic investment plan (SIP) route and Rs 5,000 crore collected by seven new fund offers (NFOs) in the active equity space, reveals data released by the Association of Mutual Funds in India (Amfi). Moreover, redemptions moderated in August, declining by 19 per cent to Rs 24,580 crore, after staying elevated in the previous three months owing to profit booking.
From the 30-share Sensex blue-chip pack, Titan, Adani Ports, UltraTech Cement, Tata Consultancy Services, NTPC, Bharti Airtel, Tech Mahindra, Infosys, Hindustan Unilever and JSW Steel were the biggest laggards.
'Growth for some companies has been hard to come by and this is a smart way to get there.'
There remains a debate on who said this: "When the facts change, I change my mind. What do you do, Sir?" Was it the British economist John Maynard Keynes or the American economist Paul Samuelson. Irrespective of who said it, this sentiment appears to have found resonance in ITC's boardroom in recent years.
Bajaj Finserv, Tata Steel, Larsen & Toubro, UltraTech Cement, Kotak Mahindra Bank and Tata Motors were among the gainers. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 4,486.41 crore on Tuesday, according to exchange data.
All sectoral indices ended lower. BSE Telecommunication tanked 2.18 per cent, metal (1.77 per cent), auto (1.70 per cent), energy (1.64 per cent), oil & gas (1.59 per cent), commodities (1.39 per cent) and financial services (1.37 per cent) were the major laggards.
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Christopher Wood, global head of equity strategy at Jefferies has rejigged his equity portfolios. In his Asia ex-Japan long-only portfolio, he has added Axis Bank (5 per cent weightage) and increased holding in Larsen & Toubro (L&T) by one percentage point. This, Wood said, will be paid for by removing the investment in ICICI Lombard General Insurance and reducing the investments in HDFC Bank and Reliance Industries (RIL) by one percentage point each.
A host of macroeconomic data announcements, the last batch of September quarter earnings, global trends, and trading activity of foreign investors will be the major driving factors for the equity market this week, according to analysts. Equity markets would remain closed on Friday for Guru Nanak Jayanti. "India is set to release CPI and IIP data on November 12, with WPI data expected on November 14.
Analysts are warning of growing risks to the market's sustained momentum, and even to the possibility of consolidation at current levels. Domestically, markets are grappling with several challenges, including a slowing economy, as indicated by the latest GDP data for the July-September (Q2) quarter of 2024-25 (FY25), sticky inflation, fluctuations in the rupee, waning consumption, and high interest rates.
Among Sensex shares, Zomato, NTPC, Adani Ports, ICICI Bank, State Bank of India, Reliance Industries, Mahindra & Mahindra, Bajaj Finance, Tech Mahindra and Axis Bank were the major laggards. UltraTech Cement and HCL Technologies were the only gainers.
Bajaj Finance, Bajaj Finserv, NTPC, State Bank of India, Power Grid, HDFC Bank, Tech Mahindra and Asian Paints were the other gainers. However, Zomato, Adani Ports, Tata Consultancy Services, Mahindra & Mahindra, Maruti and Tata Motors were among the laggards.
'As we navigate uncertain waters, a conservative approach to largecap investing could provide a strategic advantage.'
Trading activity of foreign investors and global trends will be the major driving factors for the equity markets in a holiday-shortened week ahead, according to analysts. Leading stock exchanges BSE and NSE have declared a trading holiday on November 20 for assembly elections in Maharashtra. Elections to the 288-member state legislative assembly will be held on November 20, and votes will be counted on November 23.
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From the 30-share Sensex pack, Tata Consultancy Services, Infosys, NTPC, HCL Technologies, Axis Bank, Tech Mahindra, Bajaj Finserv, Sun Pharma, IndusInd Bank and Reliance Industries were the major laggards. Tata Steel, Hindustan Unilever, Mahindra & Mahindra, Nestle and State Bank of India were among the gainers.
'Selling could further intensify and take the index towards 22,800-22,750 in the near-term.'
Zomato emerged as the biggest gainer, followed by Reliance, Nestle, Asian Paints and Power Grid.
Finance, ICICI Bank, Mahindra &h Mahindra, Kotak Mahindra Bank and Titan were among the gainers. Bharti Airtel, Adani Ports, Tech Mahindra, Reliance Industries, Axis Bank, Larsen & Toubro were the laggards.
Private equity (PE) activity in India between January and November 2024 recorded a total value of $30.89 billion across 1,022 deals, a 22.7 per cent increase in value and an 18.4 per cent rise in deal count compared to $25.17 billion across 863 deals during the same period in 2023. Notable large deals during the period include Walton Street India Investment Advisors at $1.5 billion, and KiranaKart Technologies at $1.35 billion.
The primary market will remain abuzz with more than half a dozen companies, including Hyundai Motor India, Swiggy, and NTPC Green Energy, lined up initial public offerings over the next two months to raise around Rs 60,000 crore, merchant bankers said. Apart from these three firms, Afcons Infrastructure, Waaree Energies, Niva Bupa Health Insurance, One Mobikwik Systems, and Garuda Construction are among the companies planning to launch initial public offerings (IPOs) during October-November, they added. Together, these firms are looking to raise Rs 60,000 crore through their IPOs.
Many investors want to exit equities now and re-enter when they begin to rise. Such timing is difficult to pull off.
'Market corrections are a natural part of investing, so it's essential to remain focused on long-term financial goals.'
Equity markets this week will take cues from global trends, trading activity of foreign investors and quarterly earnings, with TCS kick-starting the results calendar on Thursday, analysts said.
Alternative investment funds (AIFs) have crossed Rs 5 trillion in terms of funds raised, while the investment commitments have surpassed Rs 12 trillion for the first time as of September, according to data released by the Securities and Exchange Board of India (Sebi).
India's flexible (flex) office segment, having breached pre-pandemic levels, is thriving as corporates, startups, multinational corporations, and global capability centres (GCCs) expand in India, seeking low-capital yet Grade A plug-and-play facilities. In the first quarter (Q1) of 2025, the flex office segment continued to grow, with flex space leasing rising by 22 per cent to 2.2 million square feet (msf), according to Colliers.
Foreign flows into Indian equities are expected to pause in the short to medium term, say analysts. The outlook is influenced by multiple factors, including rising oil prices, actions from global central banks, climbing bond yields, and the dollar index gaining prominence. "Valuations appear rich with the markets at record highs.
From the 30-share pack, Adani Port, Bharti Airtel, Asian Paints, IndusInd Bank, Bajaj Finserv, Reliance Industries, Infosys, UltraTech Cement, HDFC Bank, HCL Technologies and ICICI Bank were among the laggards. Tata Motors, Axis Bank, Maruti, Larsen & Toubro, ITC and Tata Steel were among the gainers.
Investors will take cues from the December quarter corporate earnings, with blue-chips like Infosys, Reliance Industries scheduled to report their results this week, in addition, inflation data and trading activity of foreign investors will also be crucial in dictating market trends, analysts said.
Engineering and construction major Larsen & Toubro (L&T) reported a 25 per cent rise in net profit attributable to the owners of the company for the January-March quarter of 2024-25, owing to higher revenues and an exceptional gain. For the quarter under review, L&T posted a consolidated net profit of Rs 5,497.3 crore, while revenue rose 10.9 per cent year-on-year (Y-o-Y) to Rs 74,392.28 crore.
'Investors with foreign currency-denominated goals, such as foreign education or foreign travel, should go for US equity funds.'
Titan, Nestle, Hindustan Unilever, State Bank of India, Larsen & Toubro, ITC, Zomato and Bajaj Finserv were also among the laggards. Adani Ports, IndusInd Bank, Tata Motors and HDFC Bank were among the major gainers.
From the 30-share pack, Hindustan Unilever, Tata Motors, Axis Bank, Nestle India, Asian Paints, ITC, Reliance Industries, Mahindra & Mahindra, IndusInd Bank and State Bank of India were among the laggards. Larsen & Toubro, Tata Steel, JSW Steel, HDFC Bank, Adani Ports, Kotak Mahindra Bank, Bharti Airtel and PowerGrid were among the gainers.
Net investments in active equity mutual fund (MF) schemes rose to Rs 7,300 crore in December after declining to a 21-month low of Rs 2,260 crore in November, shows the latest data from the Association of Mutual Funds in India (Amfi). The rebound in net inflows was driven by a surge in investments and moderation in redemptions. While the inflows into these schemes rose 5 per cent month-on-month (MoM) in December, the redemptions were 14 per cent lower compared to November.
Younger investors with long investment horizons may continue their SIPs.
Global trends, trading activity of foreign investors and domestic macroeconomic data announcements would dictate terms in the equity market in a holiday-shortened week ahead, analysts said. Equity markets would remain closed on Wednesday for Gandhi Jayanti. "Looking ahead, it will be interesting to monitor Foreign Institutional Investors (FIIs) and their flow into India.
Macroeconomic data announcements, trading activity of foreign investors and global trends will guide equity market movement this week, which would also mark the beginning of the new calendar year and month, analysts said.
'Expect India to keep doing well irrespective of geopolitics.'
Fifteen companies have launched their initial public offerings (IPOs) in December 2024, making it the best month for public offerings since 1996. Collectively, they have raised Rs 25,425 crore, which also made December the best month in terms of the quantum of funds raised. In December 1996, 33 companies had raised Rs 931 crore.
From the Sensex pack, Reliance Industries, Bajaj Finserv, HDFC Bank, Adani Ports, Maruti Suzuki India, Axis Bank, Hindustan Unilever, Sun Pharmaceuticals and Asian Paints were among the laggards. Reliance Industries fell the most by 2.38 per cent to close at Rs 1,171.10 apiece.
